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Key documents
Objective
This emerging market (EM) aggregate strategy combines emerging market sovereign and corporate debt into one portfolio against a blended benchmark of both asset classes. The portfolio consists purely of hard currency (predominantly US dollar-denominated) assets trading at a spread over US Treasuries.
Sustainability-related disclosure
The BlueBay Emerging Market Aggregate Bond Fund (the Fund) is actively managed and its objective is to achieve returns in excess of a blend of the JP Morgan Emerging Market Bond Index Global Diversified and the JP Morgan Corporate Emerging Market Bond Index Diversified, over the credit cycle. There are no restrictions on the extent to which the Sub-Fund's portfolio and performance may deviate from the ones of the benchmark.
This is a marketing communication. There are several risks associated with investing in this product. Please refer to the prospectus of the fund and to the KIID available on this website before making any final investment decisions.
Investment approach
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A holistic emerging market debt portfolio jointly managed by EM sovereign and corporate teams
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High conviction approach comprising of established ideas across the EM sovereign and EM corporate universe
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Bottom-up, fundamental, research-driven approach at the country and company level, albeit with significant macro input
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All investment decisions considered for inclusion in the portfolio are logged in the team’s Alpha Decision tool with a conviction rating score ranging from +3 to -3
Market opportunity
The opportunity set combines access to higher-yielding and frontier sovereign issuers with high-quality corporates from more ‘developed’ EM with limited sovereign debt outstanding
It also provides relative value opportunities between sovereign, quasi-sovereign and corporates in large, established emerging market countries
Polina Kurdyavko
Head of Emerging Market, Senior Portfolio Manager, Emerging Markets
Polina is Head of Emerging Markets and Senior Portfolio Manager at RBC BlueBay. In addition to oversight of investments across all EM strategies, Polina is also a lead portfolio manager for several flagship funds in EM sovereign, credit and local markets, including long only and alternative products. Polina started her career in emerging markets after the Russian financial crisis in 1998 and has, since then, gained expertise across a broad range of emerging market financial assets. Polina joined RBC BlueBay in July 2005 from UBS where she was a credit analyst in EM corporate research. Her role encompassed coverage of EM issuers as well as research support for primary issuance of corporate debt. Prior to this, Polina was with Alliance Capital where she was an emerging markets equity analyst and then moved on to pioneer emerging markets quantitative research at the firm. She started her career in a macro research boutique in Russia. Polina holds an MSc (Hons) in Finance from the People's Friendship University of Russia, Moscow, is a CFA charterholder, and holds the CFA Certificate in ESG Investing.
Jana Harvey
Senior Portfolio Manager, Emerging Markets
Jana is a Senior Portfolio Manager within the Emerging Markets Team. Prior to joining RBC BlueBay in December 2014, Jana was a Partner and Portfolio Manager at Rogge, where she co-led the EM team in London and Singapore and managed EM assets across a range of active global fixed income and currency portfolios. Following experience in banking, she started her Asset Management career at Threadneedle in 2006, where she became a deputy fund manager in the Emerging market fixed income team. She holds a BSc in International Economics from the University of Economics in Prague, an LLM in Finance from J.W. Goethe University in Frankfurt and a Postgraduate Certificate in Complex System Modelling from King’s College, London. Jana is a CFA charterholder and holds the Certificate in ESG Investing.
Anthony Kettle
Partner, Senior Portfolio Manager, Emerging Markets
Anthony is a Senior Portfolio Manager within the Emerging Markets Team. Anthony joined RBC BlueBay in March 2006 and his primary portfolio management responsibilities include the EM long-short credit strategy, the EM Unconstrained Bond Fund and the suite of EM Corporate long only funds. Prior to joining RBC BlueBay, he held a management position at National Australia Bank. Anthony holds a Bachelor of Commerce degree from the University of Melbourne, a Graduate Diploma in Applied Finance and Investment from the Australian Securities and Investments Commission, and is a CFA charterholder.